Lam Research Corp. (LRCX) Shares Bought by HL Financial Services LLC
HL Financial Services LLC boosted its position in shares of Lam Research Corp. (NASDAQ:LRCX) by 10.3% during the second quarter, Holdings Channel reports. The firm owned 47,474 shares of the company’s stock after buying an additional 4,445 shares during the period. HL Financial Services LLC’s holdings in Lam Research Corp. were worth $3,991,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Lam Research Corp. by 3.2% in the first quarter. State Street Corp now owns 6,373,942 shares of the company’s stock worth $526,477,000 after buying an additional 198,861 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Lam Research Corp. by 29.1% in the first quarter. Wellington Management Group LLP now owns 5,025,762 shares of the company’s stock worth $415,128,000 after buying an additional 1,131,843 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Lam Research Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,480,130 shares of the company’s stock worth $370,059,000 after buying an additional 30,119 shares in the last quarter. Investec Asset Management LTD bought a new position in shares of Lam Research Corp. during the first quarter worth about $143,984,000. Finally, TIAA CREF Investment Management LLC increased its position in shares of Lam Research Corp. by 32.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,734,315 shares of the company’s stock worth $143,254,000 after buying an additional 422,910 shares in the last quarter.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.18% during mid-day trading on Tuesday, reaching $91.98. The company’s stock had a trading volume of 1,869,844 shares. The stock’s 50 day moving average is $92.28 and its 200 day moving average is $84.28. Lam Research Corp. has a one year low of $61.20 and a one year high of $95.77. The firm has a market cap of $14.74 billion, a PE ratio of 17.62 and a beta of 1.31.
Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.16. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. On average, analysts anticipate that Lam Research Corp. will post $6.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, September 12th. Lam Research Corp.’s payout ratio is 22.99%.
A number of research analysts have recently issued reports on LRCX shares. Nomura lifted their price target on Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, June 23rd. Zacks Investment Research upgraded Lam Research Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Pacific Crest set a $101.00 price target on Lam Research Corp. and gave the company a “buy” rating in a report on Thursday, August 11th. BlueFin Research upgraded Lam Research Corp. to a “positive” rating in a report on Monday, July 18th. Finally, Susquehanna reiterated a “neutral” rating on shares of Lam Research Corp. in a report on Saturday, August 13th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Lam Research Corp. currently has an average rating of “Buy” and an average target price of $99.21.
About Lam Research Corp.
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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